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Suffolk Bancorp Turns To Profit In Q1

Suffolk Bancorp (SUBK: Quote) reported first quarter 2012 net income of $1.2 million, or $0.12 per share, compared to a net loss of $7.6 million, or $0.78 per share, a year ago, due to a $20.0 million reduction in the provision for loan losses.

Net interest income for the quarter declined to $14.21 million from $18.41 million last year. Total other income for the quarter was $2.26 million, compared to $2.22 million in the prior year quarter.

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by RTT Staff Writer

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